President Donald Trump is nominating a conservative doctor-turned-pundit with deep ties to Wall Street and the pharmaceutical industry to lead the powerful Food and Drug Administration.

Dr. Scott Gottlieb would be tasked with Trump's goal of cutting red tape at the FDA, which regulates everything from pharmaceuticals to seafood to electronic cigarettes. Trump has called the FDA's drug approval process "slow and burdensome," despite changes to speed reviews, particularly of cutting-edge products.

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Gottlieb served as a deputy commissioner under George W. Bush and currently is a resident fellow at the conservative American Enterprise Institute and a partner in the venture capital firm New Enterprise Associates.

The White House on Friday confirmed Trump's intent to nominate Gottlieb.